Atlas Salt and Triple Point Resources are pleased to announce that the previously announced spin-out of Triple Point through a Plan of Arrangement under the Business Corporations Act has been completed. The Arrangement was effective at 12:01 a.m. on September 22, 2022. Pursuant to the Arrangement, Atlas Salt transferred ownership of the Fischell's Brook Salt Dome and other mineral licenses prospective for salt domes to [...]
Atlas Salt Inc. is pleased to announce that on Sept. 7, 2022, the Supreme Court of British Columbia issued its final order approving a Plan of Arrangement with Triple Point Resources Ltd. The Company has set 12:01 a.m. on Sept. 22, 2022, as the effective time and date for the closing of the Arrangement. Shareholders of record as at the close of business on September 21, 2022, will be entitled to receive one Triple Point [...]
Atlas Salt Inc. is pleased to announce that at its annual general and special meeting held yesterday, holders of common shares of Atlas Salt voted overwhelmingly in favour of the special resolution to approve the proposed Plan of Arrangement with Triple Point Resources Ltd. under the Business Corporations Act. The special resolution with respect to the Arrangement was approved by 99.99% of the votes cast by shareholders [...]
Atlas Salt Inc. is pleased to provide a corporate update with the leaders of Canada and Germany expected to sign a "Hydrogen Accord" at a news conference scheduled for early this evening in Stephenville, Newfoundland. In addition to its flagship Great Atlantic Salt Project, approximately 25 km south of Stephenville, Atlas owns 100% of the Fischell's Brook salt deposit, Newfoundland and Labrador's only known salt dome with [...]
Atlas Salt Inc. is pleased to provide the following update on its proposed spinout of 226 sq. km of mineral licenses in southwest Newfoundland, outside of its flagship Great Atlantic Project, highlighted by the Fischell's Brook Salt Dome. Highlights: A Special AGM will be held August 31, 2022, to vote on the proposed Plan of Arrangement as per an information circular posted on SEDAR and mailed to Atlas Salt shareholders [...]
Atlas Salt is pleased to announce that it has entered into a definitive arrangement agreement with Triple Point Resources with respect to the spin-out of the Company’s Fischell’s Brook Salt Dome Property and related mineral licenses comprising 226 sq. km. Pursuant to the Agreement, the Company agreed to distribute 23,750,000 common shares of Triple Point to the shareholders of the Company on a pro-rata basis. The [...]
Atlas Salt is pleased to announce that the Board of Directors has approved, in principle, the spin-out of the Company’s Fischell’s Brook Salt Dome Property and related mineral licenses comprising 226 sq. km in southwest Newfoundland. In connection with the spin-out the mineral licenses will be transferred to Triple Point Resources Ltd., a subsidiary of the Company established for the purpose of the spin-out.
Atlas Salt is pleased to report that as the Company progresses toward completion of its Great Atlantic Feasibility Study, drilling of another significant step-out hole has commenced approximately 300 metres east of CC-4 which cut a gross thickness of 335 m grading 96.8% salt starting just 190 m downhole. Mr. Rowland Howe commented: “The already known extent of the high-grade homogeneous salt deposit at Great Atlantic is [...]
Atlas Salt is pleased to report that additional results from its ground gravity survey have led to the modelling of a potential second salt dome just 3 km east of the large Fischell’s Brook Salt Dome deposit. “Fischell’s Brook East” is consistent with the increasingly apparent district-scale salt potential of Atlas’ nearly 200 sq. km land package in western Newfoundland, parts of which will form a strategic near-term [...]
Atlas Salt is pleased to report that a recently completed ground gravity survey suggests that the Company’s 100%-owned Fischell’s Brook Salt Dome is significantly larger than originally believed, further demonstrating the district-scale salt potential of the broader Bay St. George district in western Newfoundland and the prospectivity of this area in hosting different styles of salt deposits. Highlights: Modelling of the [...]
Atlas Salt is pleased to provide the following update: Great Atlantic Project. The ongoing drill program at Great Atlantic has extended the massive homogeneous high-grade salt deposit by approximately half a kilometer to the northeast and half a km to the northwest through the first two significant step-out holes, with further details to come; Geotechnical data continue to support the objective of accessing the large [...]
Drilling by Atlas Salt at its 100%-owned Great Atlantic Project in western Newfoundland has reached the interpreted top of the salt bed in a 500-metre step-out hole toward the deep water port at Turf Point. Detailed downhole logging of the overlying sediments in this first drill hole has been completed after drilling reached the top of the interpreted salt interval. This intermediate part of the hole will be cased and [...]
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